De Brauw comments on draft bill that makes response time a statutory right
De Brauw has submitted consultation feedback on a draft bill that provides Dutch NV companies listed on a stock exchange in the Netherlands or abroad, with a statutory right to invoke a response time of up to 250 days. The management board at these companies will be able to use this measure where shareholders have asked the company to put a change in how the board is composed on the agenda of a general meeting, or where a hostile public offer is announced or made. The management board should use the response time to assess the effects the developments might have on the company’s stakeholders, and to explore alternatives. The draft bill also codifies the management board’s authority to determine the company’s strategy.